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Japanese Stocks Rise as US Job Reports Boost Confidence in Global Recovery

Strategic Insights

— 1 min read

The Japanese stock market saw significant gains, with Mazda Motor Corp. leading the pack with a 2.9% increase, followed by Canon Inc. at 2.5%, and Kobe Steel Ltd. jumping 6.3% after Morgan Stanley upgraded its rating. The Nikkei 225 Stock Average rose 0.5% to 11,339.30, its highest close since October 2008. The broader Topix index also gained 0.6% to 995.68, with more stocks advancing than falling. Tokyo-based Chuo Mitsui Asset Management Co.'s general manager, Naoteru Teraoka, attributed the rise to increased confidence in a sustained economic recovery as employment starts to pick up.

Key Takeaways:

  • Japanese stocks rose as US job reports boosted confidence in global economic recovery, with Mazda Motor Corp. leading the pack with a 2.9% gain.
  • Canon Inc. and Kobe Steel Ltd. also experienced significant gains, with Canon advancing 2.5% and Kobe Steel jumping 6.3% after Morgan Stanley upgraded its rating.
  • The Nikkei 225 Stock Average rose 0.5% to 11,339.30, its highest close since October 2008.
  • The broader Topix index gained 0.6% to 995.68, with more stocks advancing than falling.
  • Stocks in the Topix index trade at 20.5 times estimated earnings, compared with 15.1 times for the S&P 500 and 13.2 times for the Stoxx 600.
  • Chuo Mitsui Asset Management Co.'s general manager, Naoteru Teraoka, attributed the rise to increased confidence in a sustained economic recovery as employment starts to pick up.
  • The Topix index has gained 9% this year to 2 April, outperforming the 5.7% rise for the Standard & Poor's 500 Index in the US and 5.4% climb for the Stoxx 600.

Statistics:

  • The Nikkei 225 Stock Average rose 0.5% to 11,339.30.
  • The broader Topix index gained 0.6% to 995.68.
  • Mazda Motor Corp. gained 2.9%.
  • Canon Inc. advanced 2.5%.
  • Kobe Steel Ltd. jumped 6.3% after Morgan Stanley raised its rating.
  • Stocks in the Topix index trade at 20.5 times estimated earnings.
  • The Topix index gained 9% this year to April 2.
  • The S&P 500 Index in the US rose 5.7% this year.
  • The Stoxx 600 rose 5.4% this year.

Sources:

  • Bloomberg data
  • Euclid Infotech Pvt. Ltd.
  • Syndigate.info
  • Albawaba.com

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